CNN BUSINESS | The CEO who fired 900 people over Zoom is accused of misleading investors

New York (CNN Business) – Vishal Garg, the Better.com CEO who fired 900 employees over Zoom just before Christmas, has been sued by a former executive for allegedly misleading investors.

The SoftBank-backed online mortgage company agreed to a $7.7 billion merger with a blank-check firm to take the company public just over a year ago, but the so-called SPAC deal has yet to close. Since then, Garg’s public controversy — and surging mortgage rates — have hurt the company’s image and business.

Sarah Pierce, a former executive vice president for sales and operations at the company, claimed in a lawsuit that Garg misrepresented Better.com’s statements to ensure the SPAC merger moved forward.  –read more–